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Wielding Finance, Innovation And Policy To Make An Impact In Climate Change

Serbian PM moves to oust finance minister, risking election

Widge: There are 2 main challenges. First, developing and emerging economies need to develop investment-grade policy frameworks that generate a strong pipeline of bankable green growth projects. This can be done through enacting national targets supported by regulatory frameworks and predictable incentives. Second, governments need to focus public finances in such a way as to maximize private investment in the projects that are developed. Public finance must unlock and leverage significant amounts of private capital; this can be done through funds that aggregate smaller investments in energy access, agriculture and energy efficiency; through insurance products that reduce policy and technology risk; and through structured funds that combine public and private investment in such a way as to attract large institutional investors.

Chidambaram had a discussion with BJP leaders Sushma Swaraj, Arun Jaitley and Yashwant Sinha on the financial bills that have been listed for consideration during the session. The BJP leaders agreed to support routine and necessary financial business but indicated that the party will continue to oppose further opening of the insurance and pension sectors to foreign direct investment (FDI). “He (Chidambaram) came to discuss financial legislation that the government plans to bring in the monsoon session. There was agreement on some suggestions made by the Finance Minister, but disagreement on others,” BJP spokesman Shahnawaz Hussain said. In the insurance sector, the government proposes to increase the FDI cap to 49 per cent from 26 per cent, which the BJP opposes.

Dacic said the offer fell short. “Economy and finance are the most important issues for the future of Serbia and we need an additional impetus here,” he said. “We have no time for mistakes.” In response, Dinkic accused Dacic of “pure politicking” to cement his own position as premier. The nationalist SNS is riding high in opinion polls and stands to gain the most from a new election, which would likely cement its dominance of the Serbian political scene.